OGFZA to Open More Free Zones to Boost Nigeria’s Economy
The Chief Executive Officer and Managing Director of the Oil and Gas Free Zone Authority, Sen.Tijjani Yahaya Kaura, has announced plans to create more free zones in the country in order to boost the nation’s economy and generate revenue.
Kaura who particularly assured that Liberty and Brass oil and gas free zones would take off in no distant time, promised of a better conducive environment and global best practices that would enhance ease of doing business for operators in the free zone.
The new OGFZA boss speaking during a week-long working visit to oil and gas free zones in Rivers and Akwa Ibom, tasked staff of the Authority on the need to be tactical in pursuing the set objectives of the Authority, which he said was to attract more foreign investment into the country.
Unveiling his agenda for OGFZA, he pointed out the need to generate more revneue since the Federal Government was no longer funding the Authority, hence the need to explore areas to generate revenue, principal of which is to open more free zones.
“The main objective of OGFZA is to grow the Nigerian’s economy, but in doing that there is need to strike a balance and effective equilibrium by wooing investors and giving incentives, because it is only economy growth that makes a country strong.
“This country is in dire need of economic growth and that is the essence of the free zone, to provide an enabling environment so that investment is attracted from all parts of the world.
“We must try to keep the objective of free zone by doing whatsoever it takes to give prospective investors the liberty and enabling environment for them to come here and invest.
“Only economic growth can make a country strong and we have to put our energies and knowledge to attract more foreign investors into the country, particularly in our free zones. We will put all hands-on deck to ensure that Liberty oil and gas free zone, as well as Brass free zone take place in the nearest future.”
The former Minister of Foreign Affairs who toured enterprises in the Onne free zone in Rivers and Liberty free zone in Akwa Ibom, promised to leverage on the successes of his predecessor to provide an enabling environment for foreign investors, and also generate revenue.
Some of the Free Zone Enterprises, the new OGFZA boss visited were Intels Nigeria Limited, West Africa Container Terminal, Pipecoaters Nigeria Limited and TechnipFMC, as well as Notore Chemicals, a sub-zone in Onne oil and gas free zone.
Kaura was briefed on major issues and challenges confronting entreprises in the Onne Free Zone, among which are insecurity, power supply, dilapidated condition of access roads to the zone, and suspension of 75percent import duty rebate two years ago, etc.
Responding to the challenges faced by enterprises in the Onne free zone, the new OGFZA boss said he would leverage on his pedigree and antecedents as former Minister of Foreign Affairs who has been around the globe, to move the Oil and Gas Free Zones to the next level.
He promised to draw the attention of the Federal Government to the deplorable state of Eleme axis of the East-West Road for immediate intervention, assuring the investors of his commitment to ensuring cooperation and necessary support to address all the issues they are faced with.
